Journal of Payments Strategy and Systems
Número:
4
Publicado:
Nicolás F. Suárez-Ariza Lo más reciente
Juliana Jaramillo-Echeverri, Karina Acosta, Olga Lucia Acosta Navarro, Oscar Iván Ávila-Montealegre, Jhorland Ayala-García, Jaime Bonet-Morón, Jesus Botero, Luz A. Flórez, Daniela Gallo, Luis Armando Galvis-Aponte, Karelys Guzmán-Finol, Eduardo A. Haddad, Ana María Iregui-Bohórquez, David Camilo López-Valenzuela, Ligia Alba Melo-Becerra, Juan J. Ospina-Tejeiro, Andrea Otero-Cortés, Julian A. Parra-Polania, Gerson Javier Pérez-Valbuena, José Pulido, María Teresa Ramírez-Giraldo, Mario A. Ramos-Veloza, Charles Rahal, Jorge Leonardo Rodríguez-Arenas, Shadia Zardibia
Miguel Felipe Vanegas-Vanegas
Camilo Bohorquez-Penuela, Leonardo Bonilla-Mejía, Anabelle Couleau, Alexánder Almeida
Around the world, the adoption of digital payment systems continues to grow apace. At the same time, however, the demand for cash continues to grow in both developed and developing economies. This puzzle has found only partial explanations in the previous empirical literature. This paper presents further conclusive evidence that the adoption of digital payments reduces the demand for cash. It also discusses how growth in the demand for cash is driven by economic growth and lower interest rates as well as secular positive trends in the demand for large denomination banknotes, related to unobservable factors.